Black Bear Value Fund May 2022 Update

Jacob Wolinsky

Published onJune 8, 2022

Updated on June 8, 2022

Black Bear Value Fund update for the month ended May 31, 2022.

Dear Partners and Friends,

Black Bear Value Fund, LP (the “Fund”) returned +0.2%, net, in May and +4.3% for 2022.
The HFRI returned +0.5% in May and -5.1% for 2022.
The S&P 500 returned +0.2% in May and is -12.8% for 2022.

While our portfolio has modest total gains in 2022, several of our businesses (especially homebuilding) have seen their stock prices drop meaningfully as sentiment gets more negative by the day. Our investment horizon is longer than most which provides for very asymmetric opportunities. I don't know what the next 3-12 months will bring, but at these prices it seems a fair amount of bad news is priced in. If rates do get...

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Jacob Wolinsky

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available. FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid

Black Bear Value Fund May 2022 Update

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